I’ve updated my tabulation of central banks that have launched, piloted, or are exploring wholesale central bank digital currency (CBDC). Since the May 31 update there has been one addition (Colombia) to bring the total up to 18 central banks. [See the tabulation here]
Monthly update on the Bahamas SandDollar
The Central Bank of the Bahamas (CBOB) published its monthly SandDollar update. At end-June there were $1,093,373 of SandDollars in circulation (about 0.20% of total currency in circulation). The report also runs through the CBOB’s extensive SandDollar outreach activities. Also, technical upgrades that allow top-ups to any SandDollar-enabled mobile application from domestic bank accounts were completed. [Read more at the CBOB]
DeFi – Principles for building a robust digital economy
The Association for Financial Markets in Europe (AFME) published a paper on decentralized finance (DeFi), including the impact of policy and emerging regulatory proposals within Europe on DeFi regulation and its intersection with capital markets. It calls for further research and global cooperation to determine the appropriate, proportionate, and comprehensive regulatory solutions for the unique challenges posed by DeFi. In that regard, it is crucial to leverage existing processes and frameworks to create a holistic regulatory perimeter. [Read more at the AFME]
